Blockchain-oriented healthcare firm, SimplyVital has announced that it has acquired a grant of a whopping sum of $225,000 from the US National Science Foundation or NSF for the development of its highly anticipated protocol network, Nexus. The substantial amount has been given by NSF’s Small Business Technology Transfer Fund and will be employed in nurturing Nexus platform to make it operable with the Graphene protocol, a method of block transmission.
ConnectingCare, the revolutionary solution offered by SimplyVital, fosters storage of immutable audit trails of patient history on the blockchain so that healthcare providers can readily get access to the data as and when required. Nexus is the crucial protocol which makes sure that the data stored is trustworthy and reliable by all means. It works in accordance with the Health Insurance Portability and Accountability Act (HIPAA).
Andrea Belz, who is an inevitable part of the NSF network, said that
NSF is proud to support the technology of the future by funding the most creative, impactful ideas. With our support, deep technology startups can guide basic science into meaningful solutions that address tremendous needs.
The use of the Nexus protocol in ConnectingCare leads to the creation of a reliable and secure database that ensures efficiency in usage. Now, with the flowing capital, NSF has opened doors for the firm to extend research for Nexus to operate with the Graphene protocol. Graphene protocol was created by academics at UMass Amherst in the year 2017. It asserts to be ten times more efficient in comparison to other protocols.
The notable CEO of SimplyVital, Kat Kuzmeskas, said that
This grant is transformative and endorses blockchain as a viable tool to re-engineer healthcare. We are thrilled to represent the NSF with our blockchain work.
SimplyVital has earlier been conferred with a Newsweek blockchain impact award for ConnectingCare solution. However, in the current time, it is not the only firm that is working on the blockchain technology in the healthcare sector. Launched in 2019, MediLedger also focuses on the pharmaceutical supply chain.